FinEx launches emerging markets ‘ex-Chindia’ ETF on MOEX

Dec 17th, 2021 | By | Category: Equities

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Anglo-Russian ETF issuer FinEx has introduced a new ETF on Moscow Exchange (MOEX) providing broad exposure to emerging markets while excluding stocks from China, India, and the Middle East.

FinEx launches emerging markets ‘ex-Chindia’ ETF on MOEX

The fund is the first broad emerging markets ETF to list on MOEX.

The FinEx Emerging Markets ex Chindia UCITS ETF (FXEM RM) tracks the Solactive GBS Emerging Markets ex Chindia and ME Large Cap 15% CC USD Index using direct, physical replication.

The index consists of large-cap companies from 15 of the largest emerging market countries, excluding China, India, and countries in the Middle East.

Constituents are weighted by float-adjusted market capitalization while capping the weight of any single country at 15%.

Reconstitution and rebalancing occur semi-annually with buffer rules helping to limit unnecessary turnover.

As of 17 December, the index contained 387 constituents with the largest country exposures being South Korea (16.1%), Taiwan (16.0%), Brazil (13.3%), and Russia (12.1%).

Notable positions included Taiwan Semiconductor (8.4%), Samsung Electronics (6.0%), Gazprom (2.9%), Vale (2.6%), and Sberbank Russia (2.3%).

The ETF comes with an expense ratio of 0.70%. Income is accumulated within the portfolio.

The fund is the first broad emerging markets ETF to list on MOEX. Investors can supplement their desired level of Chinese equity exposure through the $180m FinEx China UCITS ETF (FXCN RM) which comes with an expense ratio of 0.90%.

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